When running a business, the dream of expansion and increased market share often drives leaders to seek new opportunities. Mergers can serve as a strategic pathway to achieving these goals, allowing companies to combine resources, skills and customer bases for greater...
Buying out a partner to improve company finances
When a business begins struggling, those in leadership positions often have to make difficult decisions. Sometimes, downsizing can help a company overcome a period of temporary financial hardship. Reducing the number of facilities the company operates or laying off...
Can the competition poach your employees?
You’ve worked hard to bring excellent talent to your business over the years. You’ve recruited skilled workers, bringing in both those with experience and younger workers who have a more recent set of skills. The success your business has had is largely due to the...
Steps to take if your insurance claim is denied
Insuring your property or business against the unexpected is meant to act as a safety net when disaster strikes. Therefore, it can be frustrating and financially stressful when your claim is denied despite being current with your premiums. Insurance companies don’t...
What to establish in a business partnership agreement
Are you looking to start or join a business partnership? This could have great potential for you and your business. It can benefit you to make an agreement before agreeing to start a partnership. Here is what you should consider adding to this legal arrangement: ...
When an insurance company won’t uphold a business policy
Securing the right insurance coverage is as important for a business as it is for the head of a household. Those helping start or operate companies may require a variety of different types of insurance coverage. For example, companies that make their facilities open...
Noncompete agreements could be banned this year
Noncompete agreements are legally binding documents that employers sometimes use with their employees. If an employee signs such a document, they’re saying that they won’t leave their position to take the same job with the competition. In some cases, they’re also...
Does your business have third-party beneficiaries?
Business agreements, contracts and transactions are typically viewed as a two-party affair. However, the involvement of third-party beneficiaries introduces an additional layer of complexity. Third-party beneficiaries are individuals or entities that stand to benefit...
A legal and fair way to eliminate commercial lease obligations
Business owners often “start small.” They may run a company from their home office before securing a lease. Other times, they may have one location and aspire to expand to multiple other locations. Those running retail shops, service-based businesses or restaurants...
3 business transactions you cannot avoid as an entrepreneur
Entrepreneurship is a journey filled with challenges, opportunities and pivotal decisions. In the dynamic world of business, there are certain transactions that every entrepreneur inevitably encounters. These transactions play a crucial role in shaping the trajectory...